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Wilmington, Delaware, United States, April 20, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – According to a recent report, the global market for batteries for active RFID is expected to grow by an impressive 12.8% between 2023 and 2031. According to the forecast, the market is expected to reach an estimated valuation of US$ 19.6 billion by the end of the forecast period.
Battery sales for active RFID devices are projected to grow significantly over the next few years. With active RFID technology, data can be transmitted to readers over a wireless network by battery-powered tags, which makes it an ideal solution for real-time monitoring and tracking applications.
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Several industries are adopting active RFID technology, including healthcare, logistics, and retail, which is encouraging the development of batteries for active RFID tags. Moreover, the necessity to manage supply chains efficiently and track assets are fueling demand for active RFID tags, which, in turn, is increasing battery demand.
The market has also seen the arrival of several new battery technologies, including solid-state batteries, superior to traditional batteries in terms of capacity, longevity, and performance. Active RFID battery technology is expected to experience significant advancements in the coming years, which will drive the growth of the active RFID battery market in the coming years.
Key Takeaways from the Market Study
- Active RFID batteries with AAA batteries are expected to grow in demand.
- Lithium-ion batteries for active RFID are expected to grow dramatically in the next few years.
- The shipping and logistics industry is expected to increase its demand for batteries for active RFID over the coming years.
- Various industries like healthcare and banking use RFID technology to improve accuracy, efficiency, and compliance, growing…
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